Kitron receives order from Kongsberg Gruppen

(2014-03-28) Kitron has received a new order worth approximately NOK 30 million from Kongsberg Gruppen to supply electronics modules for integration in Kongsberg's weapon guidance system Remote Weapon Station (RWS). In addition Kitron has received a prognosis for orders of a further NOK 20 million.

It is Kitron's subsidiary Kitron AS that has received the order from Kongsberg Defence & Aerospace AS. The orders will be filled under the existing frame agreement between the companies. The products will mainly be delivered in 2014 and 2015, and the products will be manufactured at Kitron's plant in Arendal, Norway.

"This is a very important order for Kitron, and for Kitron in Arendal. The defence segment is one of Kitron's focus areas, and these orders strengthen Kitron's position in this market," said Kitron's interim CEO Dag Songedal.

Kitron is one of Scandinavia's leading electronics manufacturing services companies for the Defence, Energy/Telecoms, Industry, Medical equipment and Offshore/Marine sectors. The company is located in Norway, Sweden, Lithuania, Germany, China and the United States. Kitron had revenues of about NOK 1.6 billion in 2013 and has about 1,200 employees. www.kitron.com

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act).

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: Kitron ASA via Globenewswire